Banco Bradesco (NYSE:BBD) Trading Down 7.1% - Should You Sell?

Banco Bradesco S.A. (NYSE:BBD - Get Free Report)'s stock price traded down 7.1% during trading on Wednesday . The stock traded as low as $2.03 and last traded at $2.02. 9,568,233 shares traded hands during mid-day trading, a decline of 81% from the average session volume of 50,350,438 shares. The stock had previously closed at $2.17.

Wall Street Analyst Weigh In

BBD has been the topic of several analyst reports. HSBC upgraded Banco Bradesco from a "hold" rating to a "buy" rating and set a $2.80 target price on the stock in a research report on Monday, January 13th. The Goldman Sachs Group cut shares of Banco Bradesco from a "buy" rating to a "sell" rating and decreased their target price for the stock from $2.40 to $2.00 in a research note on Wednesday. Finally, JPMorgan Chase & Co. downgraded shares of Banco Bradesco from an "overweight" rating to a "neutral" rating in a report on Monday, November 25th.

Banco Bradesco Trading Up 3.6 %

The stock has a fifty day simple moving average of $1.99 and a 200 day simple moving average of $2.37. The firm has a market capitalization of $23.04 billion, a P/E ratio of 8.33, a PEG ratio of 0.28 and a beta of 0.94. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.36.

Banco Bradesco (NYSE:BBD - Get Free Report) last posted its quarterly earnings results on Friday, February 7th. The bank reported $0.09 earnings per share for the quarter, hitting the consensus estimate of $0.09. Banco Bradesco had a return on equity of 10.17% and a net margin of 7.43%. As a group, research analysts forecast that Banco Bradesco S.A. will post 0.33 EPS for the current year.

Banco Bradesco Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 7th will be issued a $0.0033 dividend. This is an increase from Banco Bradesco's previous monthly dividend of $0.00. This represents a $0.04 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date is Friday, March 7th. Banco Bradesco's payout ratio is currently 11.54%.

Hedge Funds Weigh In On Banco Bradesco

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Blue Trust Inc. boosted its position in shares of Banco Bradesco by 99.9% during the 3rd quarter. Blue Trust Inc. now owns 11,254 shares of the bank's stock valued at $30,000 after acquiring an additional 5,623 shares during the last quarter. Townsquare Capital LLC purchased a new position in shares of Banco Bradesco in the 3rd quarter worth $37,000. R Squared Ltd bought a new stake in shares of Banco Bradesco in the 4th quarter worth about $30,000. Traveka Wealth LLC purchased a new stake in shares of Banco Bradesco during the 4th quarter valued at about $31,000. Finally, Peapack Gladstone Financial Corp lifted its holdings in shares of Banco Bradesco by 54.5% in the 4th quarter. Peapack Gladstone Financial Corp now owns 17,012 shares of the bank's stock valued at $32,000 after acquiring an additional 6,000 shares during the last quarter.

Banco Bradesco Company Profile

Banco Bradesco SA, together with its subsidiaries, provides various banking products and services to individuals, corporates, and businesses in Brazil and internationally. The company operates through two segments, Banking and Insurance. It provides current, savings, click, and salary accounts; real estate credit, vehicle financing, payroll loans, mortgage loans, microcredit, leasing, and personal and installment credit; overdraft and agribusiness loans; debit and business cards; financial and security services; consortium products; car, personal accident, dental, travel, and life insurance; investment products; pension products; foreign currency exchange services; capitalization bonds; and internet banking services.